Stoneridge (NYSE:SRI) Stock Moved Down to Sell by Wall Street Zen

Wall Street Zen lowered shares of Stoneridge (NYSE:SRI) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently weighed in on SRI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research note on Monday, September 21st. Zacks Research raised shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Stoneridge Price Performance

SRI stock opened at $4.96 on Friday. The stock has a market capitalization of $141.47 million, a P/E ratio of -1.05 and a beta of 1.99. The business has a 50-day moving average of $6.49 and a 200-day moving average of $6.88. Stoneridge has a fifty-two week low of $4.60 and a fifty-two week high of $9.71.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, November 4th. The auto parts company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $180.00 million during the quarter, compared to analyst estimates of $178.73 million. Stoneridge had a negative net margin of 18.78% and a negative return on equity of 25.72%. Equities analysts expect that Stoneridge will post -0.82 EPS for the current year.

Insider Transactions at Stoneridge

In related news, CEO Natalia Noblet bought 5,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $7.31 per share, with a total value of $36,550.00. Following the completion of the transaction, the chief executive officer owned 5,000 shares in the company, valued at $36,550. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott Humphrey bought 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $7.01 per share, for a total transaction of $42,060.00. Following the acquisition, the chief financial officer directly owned 6,000 shares of the company’s stock, valued at $42,060. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 11.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stoneridge

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Stoneridge in the second quarter valued at $18,734,000. Man Group plc bought a new stake in Stoneridge during the second quarter worth $2,049,000. Globeflex Capital L P bought a new stake in Stoneridge during the second quarter worth $1,196,000. Hsbc Holdings PLC lifted its stake in Stoneridge by 36.2% in the fourth quarter. Hsbc Holdings PLC now owns 112,891 shares of the auto parts company’s stock valued at $658,000 after acquiring an additional 29,992 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Stoneridge in the second quarter valued at $525,000. Institutional investors own 98.07% of the company’s stock.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global designer and manufacturer of highly engineered electrical and electronic systems for the automotive, commercial vehicle and off-highway vehicle markets. The company develops technologies intended to improve vehicle safety, efficiency, connectivity and the driver experience.

Its products include electronic instrument clusters and driver-information systems, vehicle controls and switches, sensors, wiring and connectivity solutions, telematics systems, and camera-based vision technologies.